Cournot Competition
Version 1.0.0 · Updated 2026-07-28
CORE DEFINITION
Cournot competition (English: Cournot competition; French: Duopole de Cournot) is a monopoly theory proposed by the French economist Cournot, whose spirit is "monopoly equilibrium where marginal revenue equals marginal cost." A harmonious economy requires breaking monopolies and creating a fair competitive environment. Monopolies disrupt the normal market economic order, prevent new competitors from entering the market, stifle fair competition rules, create market barriers, and hinder normal economic development.
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Cournot competition (English: Cournot competition; French: Duopole de Cournot) is a monopoly theory proposed by the French economist Cournot, whose spirit is "monopoly equilibrium where marginal revenue equals marginal cost." A harmonious economy requires breaking monopolies and creating a fair competitive environment. Monopolies disrupt the normal market economic order, prevent new competitors from entering the market, stifle fair competition rules, create market barriers, and hinder normal economic development.
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Oligopolists each choose output, market price is determined by total supply, and firms face a "reaction function" to rivals' output. Under Nash equilibrium, each firm's output is lower than monopoly joint output but higher than perfect competition, with price between the two (Cournot equilibrium).
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- zh.wikipedia.orghttps://zh.wikipedia.org/wiki/%E5%8F%A4%E8%AF%BA%E7%AB%9E%E4%BA%89verified
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